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Bitcoin (BTC-USD) hit a fresh record high as President Donald Trump returns to the White House. Cryptocurrencies, along with crypto-related stocks like MicroStrategy (MSTR), have gained on crypto investors' optimism under Trump.
Coinbase (COIN) CEO Brian Armstrong is among the crypto leaders who have talked with the president. Armstrong joins Yahoo Finance Executive Editor Brian Sozzi to discuss crypto under Trump 2.0, including the potential for a strategic bitcoin reserve, regulation changes, and more.
The Coinbase CEO says he thinks Trump is "excited" about a strategic bitcoin reserve, adding, "He really wants to be the first bitcoin president." Senator Cynthia Lummis (WY-R) is leading the efforts in Congress to create a strategic bitcoin reserve.
"Any government that holds gold should also hold bitcoin as a reserve," he says, noting, "If the US gets a strategic bitcoin reserve, probably the rest of the G20 will follow, or many of them, and that's just going to drive the bitcoin prices way up."
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Armstrong says there are "a lot of positive drivers" for bitcoin. "We have an opportunity to get regulatory clarity in this new administration; the bitcoin ETFs are seeing record adoption," and "we're seeing payments really start to take off with stablecoins."
Watch the video above to hear more from the Coinbase CEO.
Click here for more of Yahoo Finance's coverage from the World Economic Forum in Davos.
This post was written by Naomi Buchanan.